milford kiwisaver plan application / transfer form ... · newspaper/magazine advertising online...

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Milford KiwiSaver Plan Application / Transfer Form

IRD NUMBER*

*If no IRD number has been received within six weeks of joining the Milford KiwiSaver Plan, we are required to exit you from the Milford KiwiSaver Plan.

Prescribed Investor Rate (PIR) (Please tick appropriate box) You can find out more about PIRs at www.ird.govt.nz (search “Using Prescribed Investor Rates”). If you are unsure of your PIR, we recommend you seek professional advice or contact Inland Revenue. If a PIR is not selected a 28% PIR will apply.

10.5% 17.5% 28%

How did you hear about Milford? (Please select as many that apply).

TV/video advertising Newspaper/magazine advertising Online advertising Online search Radio

Brian Gaynor’s article Referral

Other

Please send this application form, together with any other required documentation to: Milford KiwiSaver Plan PO Box 960, Shortland Street, Auckland 1140

We are unable to accept scanned copies. If you are applying on behalf of a minor, please contact us as a different form will be required.

Investor Details

FIRST NAME MIDDLE NAME(S) SURNAME

TITLE DATE OF BIRTH EMAIL ADDRESS (required for access to online client portal)

/ /

MOBILE PHONE NUMBER HOME PHONE NUMBER

PHYSICAL ADDRESS (cannot be a PO Box) SUBURB

CITY COUNTRY POSTCODE

POSTAL ADDRESS (if different from physical address) SUBURB


ADVISOR CODE

For internal use only.

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Milford KiwiSaver Plan Application / Transfer Form (continued)

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Investment Details

The Milford KiwiSaver Plan offers the option of investing your contributions in any of the below Funds or splitting your contributions across multiple Funds. Please note the percentage you wish to invest into each Fund, ensuring the amount totals 100%. If you wish to invest in one Fund only, please enter 100 in that box.

Cash Fund

Balanced Fund

Contribution Details Employees

If you are employed, your regular contributions will be made by your employer. If you would like to make changes to this rate please contact your employer directly. If you wish to invest an additional amount directly, please contact Milford or complete a direct debit form.

Non employees & Self employed

If you are not employed (self-employed, under 18, retired, etc) and NOT transferring an existing KiwiSaver account, please complete the amount of your initial investment. The minimum initial investor contribution is $1,000, please reference this payment with your name and IRD number.

Note: You are not obligated to make regular contributions to your Milford KiwiSaver account, if you would like to do so please complete a direct debit form or contact Milford.

Initial Investment

$

Please make the cheque payable to ‘Milford KiwiSaver Plan’. Or direct credit to 02 0500 0966274 000 in the name of Milford KiwiSaver Plan.

Note: In the event of an error in completing this part of the form, Milford has the discretion to allocate you into the Milford Moderate Fund.

Conservative Fund

Active Growth Fund

Moderate Fund

Aggressive Fund

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Investor Identification

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and, periodically, reconfirm information about existing clients. At the date of the attached Product Disclosure Statement (‘PDS’) we have two options for clients to confirm their identity. Please select one of the options below.

Option 1: Electronic Identity Verification and Proof of Address

Milford can confirm the identity and/or New Zealand address of many of our clients electronically, with their permission. Please note that we use a third party system not owned by Milford to conduct identity checks in this way.

I confirm that I give Milford authority to check my identity and/or address electronically using the documentation provided. I have included a copy of my current NZ Passport (preferred) or NZ Driver Licence (front & back) Please note, if this method fails to identify you, we will contact you to provide physical documents, as per Option 2 below.

Option 2: Certified copies of Identity Documents

If you prefer to provide Milford with original certified copies of your identification and address documents or you have opted not to use Electronic Identity Verification, then you will need to provide the following documentation:

Please note we need certified photocopies of your documents (we need the copy that has been physically certified). These documents cannot be scanned to us. Please do not send original versions of your identity documents.

Please verify my identity and address with the attached documents:

• Certified copy of identification document/s (see below for acceptable documents) • Certified copy of physical address (see page 4 for acceptable documents)

1. CERTIFIED COPY OF IDENTIFICATION

Originals can be verified by a Milford employee or certified by a Trusted Referee as described on page 4.

Option 1

One of the following:

Option 2

Current New Zealand Passport (preferred) New Zealand Driver Licence (front and back)

New Zealand Firearms Licence

Overseas Passport with proof of NZ residency In combination with one of the following:

OR Bank statement, dated within the last 12 months

Valid credit or debit card with name embossed and signature

Birth certificate

Citizenship certificate

Government agency letter (IRD, Work & Income, Electoral Commission) that you received in the post and dated within the last 12 months

SuperGold card with photo, name and signature

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Investor Identification (continued)

ACCEPTED TRUSTED REFEREES

Originals can be verified by a Milford employee OR certified by a Trusted Referee in accordance with the instructions outlined below. Certified copies of identification must be presented to Milford within three months of certification.

Identification must be certified by one of the following:

• Lawyer with a current practising certificate • Registered Teacher

• Chartered Accountant • New Zealand Honorary Consul

• Member of the Police • Notary Public

• Justice of the Peace • A person who has the legal authority to take statutory declarations or the equivalent in New Zealand • Registered Medical Doctor

The certifier must:

• Make the statement “I certify this to be a true copy of the original which I have sighted and represents a true and correct likeness of [name of the person presenting the documentation for certification].”

• Include their name, occupation and capacity to be a certifier e.g. registration number (if applicable), signature and date of certification.

• Not be living at the same address, a relative or spouse of the individual presenting the documents.

POSTAL DETAILS

Please send your application and all supplementary documentation in hard copy to the address details below:

Milford KiwiSaver Plan PO Box 960 Shortland Street Auckland 1140

2. CERTIFIED ADDRESS PROOF

Originals can be verified by a Milford employee or certified by a Trusted Referee as described below. Must state name and physical address, cannot be a PO Box address.


Bank statement, dated within the last 12 months

Current house or contents insurance policy

Current vehicle registration dated within the last 12 months


Utility bill (power, water, internet, fixed home phone, SKY) dated within the last 12 months

Rates bill dated within the last 12 months

Tenancy agreement dated within the last 12 months

Letter issued by local Health Board dated within the last 12 months

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Privacy Statement

1. The personal information you provide in this Application Form (and identity information collected in connection with this Application Form), or in the future, will be collected and held by Milford Funds Limited (“Milford”) for purposes relating to the administration, marketing, operation, security andmanagement of the Funds, the provision of services to you, and compliance with any laws, rules and regulations whether in New Zealand or in any other country. Your personal information may be disclosed to, and held and used by, the following persons:

• The Supervisor of the Funds• Milford Asset Management Limited or any of its subsidiaries or related companies (together, the “Milford Group”)• Inland Revenue• Financial Markets Authority• Any third party, whether in New Zealand or elsewhere, that provides services to the Milford Group. In particular, if you have opted for

electronic identity verification, the information will be shared with external agencies who may use a credit file header database to verifyyour address (note, this is not a credit check)

• Your own financial adviser (and their staff), this only applies if you have notified us of this relationship (you are responsible for advising us if and when this relationship ends)

• Any other person or entity where it is relevant to do so for the purposes set out above.

We can also release personal information to third parties as instructed by you and in other ways permitted by the Privacy Act.

2. Your personal information may also be used by, and you consent to the use of your personal information by, Milford or any other member of theMilford Group to keep you informed about other financial opportunities, products and services of any Milford Group member, including by email, by text message, by Milford Group’s online portal or by any other electronic means. Any electronic communication offering other financial opportunities, products or services will include an unsubscribe facility.

3. You have the right to access and request correction to the personal information you have supplied, by contacting Milford on 0800 662 346 or byemailing us at [email protected]. Any update to your personal information may be used to update other information held about you by any member of the Milford Group.

Electronic provision of information

4. I consent to receiving any communication from the Supervisor or any member of the Milford Group electronically via Milford Group’s online portal, or at the email address specified in this Application Form, or any other email address advised to any Milford Group entity from time to time. These communications include those required by law and those provided in connection with your Fund, including annual reports and annual tax certificates.

Declaration

• I have received and read a copy of the Product Disclosure Statement dated 27 March 2020 (“PDS”), and understand that additional information aboutthe Funds is available on the Funds’ online register entry.

• I agree to be bound by the terms and conditions of the PDS and the Trust Deed.• I understand that the Milford KiwiSaver Plan is a vehicle for long-term investment and as the Funds invest in equities, the value of my

investment is liable to fluctuations and may rise and fall from time to time.• I accept that it is solely my decision to make this investment and that I have chosen the appropriate Fund for my risk tolerance and circumstances.• I understand that Milford has not assessed the suitability of this investment for my personal financial situation, financial needs or goals.• I understand the manner in which the fees will be deducted from my investment.• I acknowledge that I will be unable to make any withdrawal from the Funds until Milford has received my signed withdrawal request and any

supporting or identification information required.• All the information I have provided in this Application Form is to the best of my knowledge and belief, correct and complete. I undertake to notify

Milford of any change which causes the information to become incorrect or incomplete.• I acknowledge and agree to the terms of the Privacy Statement and electronic provision of information above.

For KiwiSaver transfers only:

• I apply to transfer my KiwiSaver account to the Milford KiwiSaver Plan.• I authorise the manager or the Supervisor of the transferring scheme to provide to Milford or the Supervisor of the Milford KiwiSaver Plan

any of my personal information as necessary to complete the transfer of my benefits to the Milford KiwiSaver Plan.

If you wish to transfer a non-KiwiSaver superannuation to your KiwiSaver account, please contact Milford directly.

Your Agreement

SIGNATURE OF APPLICANT DATE

/ /

Please note we cannot accept electronic signatures.

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Application Form Checklist

Individual

Name

IRD number

Date of birth

Fund choice selected

Certified personal identification or Electronic Identity Verification consent - refer to pages 3-4

Certified address verification or Electronic Identity Verification consent - refer to pages 3-4

Application form signed

Milford KiwiSaver PlanProduct Disclosure Statement

This document replaces the Product Disclosure Statement dated 25 July 2019

Milford Funds Limited - 27 March 2020

This document gives you important information about this investment to help you decide whether you want to invest. There is other useful information about this offer on www.disclose-register.companiesoffice.govt.nz. Milford Funds Limited has prepared this document in accordance

with the Financial Markets Conduct Act 2013. You can also seek advice from a financial adviser to help you to make an investment decision.

Product Disclosure Statement 27 March 2020

3

What is this?

This is a managed investment scheme. Your money will be

pooled with other investors’ money and invested in various

investments. Milford Funds Limited (‘Milford’, ‘we’, ‘our’, ‘us’)

will invest your money and charge you a fee for its services. The

returns you receive are dependent on the investment decisions

of Milford and the performance of the investments. The value of

those investments may go up or down. The types of investments

and the fees you will be charged are described in this Product

Disclosure Statement (‘PDS’).

What will your money be invested in?

The Milford KiwiSaver Plan (‘Plan’) offers six funds (‘Funds’)

for you to invest in. These investment options are summarised

below. More information about the investment target and

strategy for each investment option is provided at Section 3

“Description of your investment option(s)”.

See Section 4 of this document “What are the risks of investing?” for an explanation of the risk indicator and for information about other risks that are not included in the risk indicator. To help you clarify your own attitude to risk, you can seek financial advice or work out your risk profile at www.sorted.org.nz/tools/investor-kickstarter.

Who manages the Milford KiwiSaver Plan?

Milford Funds Limited is the Manager of the Plan.

See Section 7 “Who is involved” for more information.

How can you get your money out?

Generally, you can access your KiwiSaver balance when

you reach the age of 65.

There are a limited number of other circumstances in which

withdrawals may be made (conditions apply) before reaching

the age of eligibility for a retirement withdrawal.

These include:

1 you suffer significant financial hardship or

serious illness; or

2 when you are purchasing your first home; or

3 after you permanently emigrate from New Zealand; or

4 if you transfer from this scheme to another KiwiSaver

scheme; or

5 if a court orders or law requires the release of funds from

your investment; or

6 if you die; in which case your investment will be paid to

your personal representatives; or

7 to meet your tax or student loan liability on any transferred

foreign superannuation scheme interest.

See Section 2 “How does this investment work?”

for more information

How will your investment be taxed?

The Plan is a Portfolio Investment Entity (‘PIE’).

The amount of tax you pay in respect of a PIE is based on your

prescribed investor rate (‘PIR’). To determine your PIR go to

https://www.ird.govt.nz/pir. See Section 6 of the PDS

(What taxes will you pay?) for more information.

Where can you find more key information?

Milford is required to publish quarterly updates for each Fund.

The updates show the returns, and the total fees actually

charged to investors, during the previous year.

The latest Fund Updates are available at

www.milfordasset.com/documents/kiwisaver-funds-

quarterly-fund-updates. We will also give you copies of those

documents on request.

Key Information Summary 01.

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Milford KiwiSaver Plan

Fund Investment Objective Risk Indicator Estimated Annual Fund Charges***

Milford KiwiSaver Cash (Cash)

Objective - Targets a return* above the New Zealand Official Cash Rate.

Description - Invests in cash, short-dated debt securities and term deposits.

0.20%

Milford KiwiSaver Conservative (Conservative)

Objective - Moderate returns* and protect capital over the minimum recommended investment timeframe

Description - Diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.

0.95%

Milford KiwiSaver Moderate (Moderate)

Objective - Moderate returns and capital growth* over the minimum recommended investment timeframe.

Description - Diversified fund that primarily invests in fixed interest securities with a significant allocation to equities.

0.97% ^(includes estimated

performance fee)

Milford KiwiSaver Balanced (Balanced)

Objective - Capital growth* over the minimum recommended investment timeframe

Description - Diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.


performance fee)

Milford KiwiSaver Active Growth (Active Growth)

Objective - Annual returns of 10%* over the minimum recommended investment timeframe.

Description - Diversified fund that primarily invests in equities, with a moderate allocation to fixed interest securities.


performance fee)

Milford KiwiSaver Aggressive (Aggressive)

Objective - Maximise capital growth* over the minimum recommended investment timeframe.

Description - Primarily invests in international equities, with a moderate allocation to Australasian equities.


performance fee)

Lower risk

Potentially lower returns

Higher risk

Potentially higher returns

1 2** 3 4 5 6 7

Lower risk


Higher risk


1** 2 3 4 5 6 7

Lower risk


Higher risk


1 2 3 4 5 6 7

Lower risk


Higher risk


1 2 3** 4 5 6 7

Lower risk


Higher risk


1 2 3 4 5 6 7 1

Lower risk


Higher risk


2 3 4 5** 6 7

* After the base fund fee but before tax and before the performance fee (if applicable).** See Section 3 “Description of your investment option(s)” for further information on the calculation of the risk indicator.*** Annual fund charges include an estimate of applicable underlying fund charges. ^ See Section 5 “What are the fees” for more information on fees.The Plan also charges an administration and registry fee of $36 per annum. This fee is not however charged for Members under 21 years of age and those 65 years and over.

Key Information Summary


5

Contents

1. Key information summary 3

2. How does this investment work? 5

3. Description of your investment option(s) 8

4. What are the risks of investing? 10

5. What are the fees? 12

6. What taxes will you pay? 16

7. Who is involved? 16

8. How to complain 17

9. Where you can find more information 18

10. How to apply 18

How does this investment work? 02. The Milford KiwiSaver Plan is registered under the Financial

Markets Conduct Act 2013 as a KiwiSaver scheme.

The Plan is a trust governed by a trust deed. The Supervisor

of the Plan (or its appointed custodian) holds the Plan’s

investments. Trustees Executors Limited is the Supervisor

(‘Supervisor’) and supervises performance of our functions

and obligations.

The Plan helps you save for retirement and provides retirement

benefits for Members. The Plan provides six Funds: Cash,

Conservative, Moderate, Balanced, Active Growth and

Aggressive, and you can select a Fund or Funds into which

your contributions will be placed.

The benefits payable depend on the amount of contributions

made either by you alone, or by you and your employer, any

additional amounts contributed either by or on behalf of you

(such as the government contributions), plus any investment

returns on contributions and other money invested.

Your money is pooled with that of other Members of the

relevant Fund. The Funds are separately accounted for and

assets of one Fund cannot be used to cover the liabilities of

another Fund. The interests of Members are represented by

units, which confer an equal interest in a Fund and are of

equal value. The value of units in each Fund will increase or

decrease according to the changing value of the underlying

assets in which the Fund has invested.

The Funds are actively managed portfolios that provide a

broad range of investment options.

The Funds also utilise the benefits of the PIE tax regime.

The Funds are managed by Milford, a wholly owned subsidiary

of Milford Asset Management Limited.

There are no regular distributions from the Plan. Conditions

apply to withdrawals as described in the ‘Withdrawing your

investments’ section.

Responsible investment, including environmental, social,

and governance considerations, is taken into account in the

investment policies and procedures of the scheme as at the

date of this product disclosure statement. You can obtain an

explanation of the extent to which responsible investment

is taken into account in those policies and procedures at

www.milfordasset.com/new-to-investing/our-investment-

approach.

There is no Crown guarantee in respect of any KiwiSaver

scheme or investment product of a KiwiSaver scheme.

Joining the schemeAs at the date of this PDS, you can join the Plan if you are an

individual living or normally living in New Zealand (subject to

certain exceptions) and you are a New Zealand citizen or

entitled to be in New Zealand indefinitely.

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You can join the Plan if you are:

• a member of another KiwiSaver scheme; or

• a non-KiwiSaver member, who is:

- a new employee where your employer has chosen the

Plan as their preferred KiwiSaver scheme; or

- a person (whether a new employee or not) who is

eligible to join.

Milford may reject any application to join the Plan. A current

minimum initial lump sum investment of $1,000 applies if you

are new to KiwiSaver and are not joining as an employee.

Making investments

If you are an employee, you can choose to contribute either

3%, 4%, 6%, 8% or 10% of your gross salary or wages (as defined

in the KiwiSaver Act 2006). This currently includes salary or

wages plus other remuneration such as bonuses and overtime.

If you do not select a rate, your contribution rate will

automatically default to 3%.

Your employer will deduct your contributions from each

payment of your after-tax salary or wages and pay them to

Inland Revenue. Inland Revenue will then pay the contributions

(with any interest) to the Plan.

You can change your contribution rate to either 3%, 4%, 6%,

8% or 10% of your gross salary or wages at any time by notifying

your employer.

You can also make additional regular or lump sum

contributions. If you are self-employed, not working or taking a

savings suspension, or under the age of 18, you can make

contributions at any time.

If you become a member of the Plan as a result of being enrolled

via your Employer Chosen Scheme and have not selected a

Fund, you will be deemed to have selected Moderate.

In the event of the ‘Investment Details’ section of the

application form being incomplete and we have not been able

to contact you to determine which Fund you wish to invest,

Milford has the discretion to allocate you to Moderate.

Milford has the discretion to include trading costs in determining

the unit price applied to contributions and withdrawals.

Government Contributions

The government will contribute (if you are eligible) 50 cents for

every dollar you contribute up to a maximum of $521.43 per year

(1 July to 30 June). You are eligible if you are 18 years or over,

reside mainly in New Zealand (exceptions apply) and are below

your superannuation qualification age (see below). This is paid

directly into your KiwiSaver account around July each year.

Withdrawing your investments

You can only withdraw your investment as specified in the

KiwiSaver Act 2006 or otherwise as required by law. Your

interest in the Plan may not be assigned or charged or passed

to any other person. You may only withdraw your

contributions in the following circumstances:

Superannuation qualification age

You can withdraw your investment when you reach the

New Zealand superannuation qualification age (currently 65).

If, however, you joined KiwiSaver before 1 July 2019 and were

aged between 60 and 64 inclusive when you enrolled, you can

withdraw your investment when you have been in KiwiSaver

(and/or a complying superannuation fund) for at least five

years. As from 1 April 2020, Members in this position will be

able to withdraw their investment on reaching the age of 65

(however they will no longer be eligible for compulsory

employer contributions or the government contribution).

On reaching the New Zealand superannuation qualification

age, you can:

• withdraw the full amount of your investment, in which case

your KiwiSaver account will be permanently closed; or

• withdraw part of your investment (conditions apply); and/or

• make regular withdrawals (conditions apply).

First home

Once you have been in KiwiSaver for three years, you may be

eligible to withdraw your investment (leaving a minimum of

$1,000 in your account) to put towards buying your first home.

How does this investment work?


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Transfer to another KiwiSaver scheme

You may transfer to another KiwiSaver scheme at any time.

You may only be a member of one KiwiSaver scheme at a time.

Suspending withdrawals

We may, with prior notice to the Supervisor, defer payment

of a withdrawal where, due to certain circumstances arising

(for example, political or market conditions), we form the

opinion that it is not practicable, or would be materially

prejudicial to Members, for such withdrawals to be made.

How to switch between Funds

You can switch from one Fund to one or more Funds online via

your client portal or by signing and returning a Switch Form

found at www.milfordasset.com/forms-documents.

Payment of withdrawals

While it is intended that approved withdrawals

(and applications) will be processed at the next available

unit price after the withdrawal (or application) process is

completed, up to 10 business days’ notice of a large

withdrawal (or application) may at times be required.

Member contributions

Employer contributions

Government contributions

Government $1,000 kick-start

contribution1 (if any)

Australian sourced amounts

Reaching superannuation qualification age ✓ ✓ ✓ ✓ ✓

Retirement withdrawal of Australian sourced amounts from age 60 and before superannuation qualification age

✗ ✗ ✗ ✗ ✓

First home purchase2 ✓ ✓ ✓ ✓ ✗

Significant financial hardship ✓ ✓ ✗ ✗ ✓

Serious illness ✓ ✓ ✓ ✓ ✓

Life-shortening congenital conditions ✓ ✓ ✓ ✓ ✓

Permanent emigration – to Australia3 ✓ ✓ ✓ ✓ ✓Permanent emigration – other than to Australia4 ✓ ✓ ✗ ✓ ✗

Foreign superannuation transfers – NZ tax or student loan obligation ✓ ✓ ✗ ✗ ✗

Death ✓ ✓ ✓ ✓ ✓

As directed by Court Order ✓ ✓ ✓ ✓ ✓

Other early withdrawalsYou may be eligible to withdraw all or part of your investment early on application to us and provided certain

conditions are met. More information, including conditions applying, is available in the Member Guide found at

www.milfordasset.com/forms-documents or www.disclose-register.companiesoffice.govt.nz.

A summary of situations where you may be entitled to withdraw follows.

1 The Government kick-start applies only if you joined a KiwiSaver scheme prior to 21 May 2015. 2 You must leave at least $1,000 in your KiwiSaver account and you cannot withdraw any amounts transferred from an Australian complying superannuation fund3 Withdrawals can be used only to transfer your balance (if it is below a maximum amount) to an Australian complying superannuation scheme.4 Withdrawals can only be made one year after your permanent emigration.

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Description of your investment option(s) 03. Fund

Investment objective and strategy

Target investment mix^ (see note following table)

Risk Indicator

Minimum recommended investment timeframe

Cash Targets a return* above the New Zealand Official Cash Rate

Invests in cash, short-dated debt securities and term deposits.

n/a

Conservative To provide moderate returns* and protect capital over the minimum recommended investment timeframe.

A diversified fund that primarily invests in fixed interest securities, with a moderate allocation to equities.

3 years

Moderate To provide moderate returns and capital growth* over the minimum recommended investment timeframe.

A diversified fund that primarily invests in fixed interest securities with a significant allocationto equities.

5 years

Balanced To provide capital growth* over the minimum recommended investment timeframe.

A diversified fund that primarily invests in equities, with a significant allocation to fixed interest securities.

5 years

Lower risk


Higher risk


1** 2 3 4 5 6 7

Lower risk


Higher risk


1 2** 3 4 5 6 7

Income 100% Growth 0%



Lower risk


Higher risk


1 2 3** 4 5 6 7

conservative

Cash and Cash Equivalents 6%

New Zealand Fixed Interest 35%

International Fixed Interest 41%

Australasian Equities 6%

International Equities 8%

Listed Property 4%

conservative






Listed Property 4%








Listed Property 5%

Lower risk


Higher risk


1 2 3 4 5 6 7


Balanced






Listed Property 6%

Balanced






Listed Property 6%


9

FundInvestment objective and strategy

Target investment mix^ (see note following table)

Risk Indicator

Minimum recommended investment timeframe

Active Growth

To provide annual returns of 10%* over the minimum recommended investment timeframe.

A diversified fund that primarily invests in equities, with a moderate allocation to fixed interest securities

5 years

Aggressive To maximise capital growth* overthe minimum recommended investment timeframe.

Primarily invests in international equities, with a moderate allocation to Australasian equities.

15 years


Lower risk


Higher risk


1 2 3 4 5 6 7


Lower risk


Higher risk


1 2 3 4 5** 6 7

Australian Absolute

Cash and Cash Equivalents 7.5%

NZ Fixed Interest 4%


Australasian Equities*** 80%

International Equities 2.5%

Aggressive




Australian Absolute

Cash and Cash Equivalents 7.5%

NZ Fixed Interest 4%


Australasian Equities*** 80%

International Equities 2.5%

Aggressive









^ Note: Targets indicate what are expected to apply over the course of an economic cycle, and should be considered as general only. Milford is an active manager and may at times deploy investment strategies that differ (within the allowable minimum and maximum bounds) materially from the above targets.

* After the base fund fee but before tax and before the performance fee (if applicable).

** Market index returns have been used for the period in the table below to calculate the risk indicator for: • Cash and Moderate, as they are new Funds and have yet to establish performance histories; and • Conservative, as its investment policy was changed significantly in September 2015 and its returns before the change would not reflect its current investment policy. To calculate the risk indicator for Aggressive we have used a mix of actual returns and market index returns to provide completed 5 year returns as the Fund was launched within the last 5 years.

This means that the risk indicators for Cash, Conservative, Moderate and Aggressive do not reflect the actual returns for the periods specified in the table below. Therefore, the risk indicators for these Funds may provide a less reliable indicator of the potential future volatility of the Funds.

We regularly review our Statement of Investment Policy and

Objectives (‘SIPO’) and may amend it, in consultation with the

Supervisor. We will notify you of any material changes before

making them. Changes will also be communicated no later

than the next quarterly Fund Update. The current SIPO can be

found at www.milfordasset.com/forms-documents or at

www.disclose-register.companiesoffice.govt.nz.

Further information about the assets in the Funds can be found

in the Fund Updates at www.milfordasset.com/documents/

kiwisaver-funds-quarterly-fund-updates or at


Fund Period of market returns used

Cash 01/03/2015 to 31/12/2019

Conservative 01/03/2015 to 31/08/2015

Moderate 01/03/2015 to 31/12/2019

Aggressive 01/03/2015 to 31/07/2019

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What are the risks of investing? 04. Understanding the risk indicator

Managed funds in New Zealand must have a standard risk

indicator. The risk indicator is designed to help investors

understand the uncertainties both for loss and growth that

may affect their investment. You can compare funds using the

risk indicator.

See Section 3 “Description of your investment option(s)” for

the risk indicators which have been calculated for the Funds.

The risk indicator is rated from 1 (low) to 7 (high). The rating

reflects how much the value of the Fund’s assets goes up and

down (volatility). A higher risk generally means higher potential

returns over time, but more ups and downs along the way.

To help you clarify your own attitude to risk, you can

seek financial advice or work out your risk profile at

www.sorted.org.nz/tools/investor-kickstarter.

Note that even the lowest category does not mean a risk-free

investment, and there are other risks (described under the heading

“Other specific risks”) that are not captured by this rating.

This risk indicator is not a guarantee of a Fund’s future

performance. The risk indicator is based on the returns data

for the five years to 29 February 2020. While risk indicators are

usually relatively stable, they do shift from time to time. You

can see the most recent risk indicator in the latest Fund

Update for the relevant Fund.

The risk indicator has been calculated on the basis of five

years of historic fund returns where available, and market

index returns where required. Hence, the returns data used

may not represent a full investment cycle for the Fund and

the risk category may be different if calculated using a longer

timeframe. If the period of returns used reflected an

environment of unusually low or unusually high volatility,

the risk indicator may not reflect the Fund’s future volatility.

In particular, heightened volatility in returns experienced in

the first quarter of 2020 will not have been fully factored into

historic risk indicators.

General investment risks

Some of the things that may cause the Fund’s value to move

up and down, which affect the risk indicator, are:

Investment return risk

Past performance is no guarantee of future performance.

As Milford is an active manager, there is a risk that a Fund

may underperform compared with its investment objective or

with the market.

Market risk

Returns of a Fund will be affected by the performance of the

investments chosen for that Fund which may in turn, be

affected by the performance of the investment markets

generally. This risk, related to market performance, includes

demand and supply in the market and economic and

regulatory conditions, including market sentiment, inflation,

interest rates, employment, political events, environmental and

technological issues, and consumer demands.

Interest rate risk

This refers to the risk that the market value of the investments

of a Fund can change due to changes in interest rates.

The market value of fixed interest securities can fluctuate

significantly with relatively small changes in interest rates.

Lower risk

Potentially lower return

Higher risk

Potentially higher return

1 2 3 4 5 6 7


11

Credit risk

The value of debt securities may be impacted by the issuer’s

ability to pay interest and principal owed as they become due.

If there is a negative perception of the issuer’s ability to meet its

payment obligations, the value of the debt security may decrease.

Equity risk

A Fund’s investment in an entity may be affected by

unexpected changes in that entity’s operations or business

environment, including the risk that the entity may become

insolvent. If this occurs, the Fund may receive a smaller or no

return from, or it may lose, its investment in the entity.

Liquidity risk

Some investments may not be easily converted into cash with

little or no loss of capital and minimum delay, because of

insufficient availability of buyers, suspension of trading on

request from the market regulator or the entity involved, fund

outflows, or disruptions in the market place. Securities of small

entities in particular may, and especially in falling markets,

become less liquid. Milford may hold a small number of

unlisted securities that are far less liquid than listed securities.

Currency risk

Where underlying investments are invested in jurisdictions outside of New Zealand, the returns may be affected by movements between the other currencies and the New Zealand dollar.

Other specific risks

Circumstances may arise that significantly increase the risk to

returns (and which are not reflected in the risk indicators).

These are broader risks that you should be aware of.

Fund of funds risk

The Funds invest primarily into Milford Wholesale Funds.

The Funds may also invest into externally managed funds.

An investment of a Fund in an underlying managed fund may

be affected by unexpected changes in that underlying

managed fund’s operations or business environment. There

may also be a risk that the underlying managed fund may have

its assets frozen for a period of time or that the manager of that

fund suspends withdrawals. This may have an impact on your

ability to withdraw, transfer to another KiwiSaver scheme or

switch between Funds.

To reduce this risk Milford monitors and reviews the

investment performance of underlying fund managers.

More detail on these risks and other general risks is included

in the Plan’s Other Material Information document available

at www.milfordasset.com/forms-documents or


12


What are the fees? 05.

Fund

Estimated annual fund charges

Other ChargesBase

fund fee*Performance-based

fees**Total

Cash 0.20% N/A 0.20%

Administration fee: $36^

Financial adviser fees (if applicable)^^

Conservative 0.95% N/A 0.95%

Moderate 0.96% 0.01% 0.97%

Balanced 1.07% 0.02% 1.09%

Active Growth 1.06% 0.22% 1.28%

Aggressive 1.15% 0% 1.15%

* The base fund fee includes an estimate of applicable

underlying fund charges ranging from 0.00% to 0.02%. Actual

charges will depend on the performance of the underlying

funds and will vary from the estimates.

** To estimate the annual performance fee charges, we have

simulated the performance of the Fund using its assumed risk

and return profile, against its stated performance benchmark

over a 20-year time horizon.

The estimated performance fee result is 0% for Aggressive as

the performance benchmark of the underlying funds in which

it invests (where applicable) is the market index. Those funds

need to achieve above the market index for a performance fee

to be payable.

^ The administration and registry fee is not charged for

Members under 21 years of age and those 65 years and over.

^^ See below for description of financial adviser fees.

Total estimated annual fund charges, performance-based fees and other charges

FundHistorical average

performance-based fees

Balanced 0.26%

Active Growth 0.42%

Actual average performance fees for applicable Funds for completed performance years since each Fund’s inception:

You will be charged fees for investing in the Funds. Fees are deducted from your investment and will reduce your returns.

If Milford invests in other funds, those funds may also charge fees. The fees you pay will be charged in two ways:

• regular charges (for example, annual fund charges). Small differences in these fees can have a big impact on your

investment over the long term;

• one-off fees (currently none).


13

Please refer to the Member Guide for more information on

performance fees.

Actual fund charges over the past disclosure year are

available in the latest Fund Updates.

Total annual fund charges are set out as a percentage of

the Fund’s net asset value.

Annual fund charges are made up of:

• a base fund fee

• any applicable estimated performance fees.

The base fund fee covers:

• normal fund operating costs such as investment

management, supervisor, custodial, fund accounting,

audit and legal costs and is paid monthly. These fees are

deducted from, and are reflected in, the Fund unit

prices of the relevant Funds; and

• estimated underlying external fund charges,

where applicable.

If Milford is unable to determine the external fund charges,

then these have been estimated from recent financial

statements based on the actual costs as a percentage of the

average net asset value that were charged for the fund’s

previous financial year. These are reflected in the prices of the

external funds that are used in the calculation of the unit price

of the relevant Fund.

Performance fees are deducted from, and are reflected in, the

unit prices of the relevant Funds, or deducted from and

reflected in the unit prices of other Milford Funds the relevant

Funds may invest in.

The other charges cover fees that relate to the administration

of your account. They are charged by us and are paid monthly.

Fees are inclusive of GST where applicable.

Other fees can be charged on an individual basis for investor

specific decisions or actions, such as entry or exit fees or financial

adviser fees. At the date of this document, there is no separate

entry or exit fee for acquiring units or withdrawing from the

Funds. However, the cost of acquiring or selling investments or

the buying or selling of units may be taken into account in setting

the unit price payable on application or withdrawal.

Your financial adviser can charge certain financial adviser fees if

they have an agreement in place with us and you have authorised

the fee to be deducted from your account balance and paid to

them. Further information about financial adviser fees including

applicable charges and when they are payable can be found at

www.milfordasset.com/forms-documents.

Performance fees

Active Growth charges a performance fee. Cash and

Conservative do not charge performance fees. Moderate,

Balanced and Aggressive do not directly charge performance

fees, but they may invest directly or indirectly in related

Milford funds that have performance fees (see table below).

Our performance fees are based on a hurdle rate of return.

The ‘hurdle rate’ is the minimum return the Fund must

achieve before being able to charge a performance fee.

In our Fund Updates we are required to report the Fund’s

performance against a market index and have therefore

provided a blend of market indices that represent the Fund’s

target asset class positions.

Active Growth and the Milford Australian Absolute Growth

Fund (‘Australian Absolute Growth’)(into which Balanced

invests) are absolute return style funds; the hurdle rate of

return (which represents the Fund’s aims) is the measure for

the Fund’s performance-based fees. This means you may be

paying a performance fee if the Fund’s performance beats the

hurdle rate of return but does not match or beat the

performance of the blend of market indices.

14


Element Description

Absolute Return Relative Return

Active GrowthAustralian

Absolute GrowthGlobal Equity Trans-Tasman Equity Dynamic

Hurdle rate of return

(benchmark)

The return that must be

achieved before a

performance

fee applies (after the base

fund fee but before tax and

before the performance fee).

10% per annum

measured across 12

month performance

payment review

periods.

Based on the OCR plus

5% per annum

measured across

six-month performance

payment review

periods.

MSCI World Index with

net dividends

reinvested (50%

NZD-hedged).

A mix of 50% S&P/ASX

200 Accumulation Index

(100% NZD-hedged)

and 50% S&P/NZX 50

Gross Index.

The S&P/ASX Small

Ordinaries (TR) Index

(100% NZD-hedged).

Fee on excess return The fee payable on the

amount of the return above

the hurdle rate of return.

The performance fee is equal to 15% of the amount by which the performance of the Fund (after the deduction of the base fund fee

but before tax, the performance fee and distributions) exceeds the hurdle rate of return.

Performance fee cap A cap (if any) on the

amount of the performance

fee.

There is no cap on the level of performance fees.

High water mark Absolute Return Funds

The high water mark is the

Fund’s previous highest

ever net asset value per unit

achieved on the

performance payment

review dates.

Relative Return Funds

The high water mark is the

Fund’s net asset value per

unit used in the calculation

of the last performance fee

paid on the performance

payment review dates.

Where the value of the Fund goes up and then down over multiple periods, this ensures that no performance fee is payable until the

last applicable high water mark has been reached.

For a performance fee to be payable at the end of a particular 12 month (Active Growth only) or six month period, the net asset

value per unit of the Fund (before tax, the performance fee and distributions) must exceed the high water mark.

Absolute performance losses are carried forward

into the next performance period.

Performance gains (if the high water mark is not achieved) or performance

losses (relative to benchmark) are carried forward into the next performance

period.

Performance

payment review

date

How often the performance

fee may be payable.

Intended at the date of this document to be annually on 31 March (Active Growth only) or six months to 31 March and six months

to 30 September, except for Australian Absolute Growth which is six months to 30 June and six months to 31 December.

The payment will be made within 10 business days and a new performance period will start.

Performance fees are payable to Milford as Manager of the Funds.

Active Growth performance fee; and Balanced and Aggressive - performance fees for related Milford Funds that Balanced and Aggressive may invest into

What are the fees?


15

Fund Fund charges Other Charges

Balanced $107 $36

Example of how fees apply to an investor

Alex, aged 35, invests $10,000 in Balanced. He is not charged

an establishment fee or a contribution fee, because there are

currently none. This means the starting value of his investment

is $10,000.

He is also charged management and administration fees (base

fund fee), which work out to about $107 (1.07% of $10,000).

These fees might be more or less if his account balance has

increased or decreased over the year.

Alex may also be indirectly charged a performance-based fee

if the underlying Milford Funds in which Balanced is invested

earned more than their target.

Over the year, Alex pays other charges of $36.

See the latest Fund Update for an example of the actual

returns and fees investors were charged over the past year.

This example applies only to Balanced. If you are considering

investing in other Funds in the scheme, this example may not

be representative of the actual fees you may be charged.

Estimated total fees for the first year

The fees can be changed

The existing fees may be changed or new fees imposed,

provided we give you notice. We must publish a Fund Update

for each Fund showing the fees actually charged during the

most recent year. Fund Updates, including past Updates,

are available at www.milfordasset.com/documents/

kiwisaver-funds-quarterly-fund-updates or at


16


The Plan is a Portfolio Investment Entity (‘PIE’). The amount

of tax you pay is based on your prescribed investor rate (‘PIR’).

To determine your PIR go to https://www.ird.govt.nz/pir. If you

are unsure of your PIR, we recommend you seek professional

advice or contact Inland Revenue.

It is your responsibility to tell Milford your PIR when you invest

or if your PIR changes. If you do not tell Milford, a default rate

may be applied. If the advised PIR is lower than the correct

PIR, you will need to complete a personal tax return and pay

any tax shortfall, interest, and penalties. If the default rate or

the advised PIR is higher than the correct PIR, you will not get

a refund of any overpaid tax (subject to proposed law changes

– see Member Guide).

You must provide us with your IRD number. Failure to do

so means by law we need to exit you in 6 weeks. You must

supply us with both your IRD number and PIR, or tax is

required to be deducted at the highest PIR. Current PIRs can

be found in the application form at the back of this PDS.

Please see the Member Guide at

www.milfordasset.com/ forms-documents or

www.disclose-register.companiesoffice.govt.nz for further

information on tax and proposed law changes.

What taxes will you pay? 06.

Milford is a wholly owned subsidiary of Milford Asset

Management Limited.Milford can be contacted at:

Milford Funds Limited

Level 28, 48 Shortland Street

PO Box 960, Shortland Street

Auckland 1140

Telephone: 09 921 4700 or 0800 662 346

Email: [email protected]

Name Role

Supervisor Trustees Executors LimitedSupervisor of the Plan, responsible for supervising us as

Manager.

Custodian National Australia Bank LimitedHolds the assets of the Funds separate to us, and on behalf

of the Supervisor.

Administration manager MMC Limited Performs unit pricing, fund accounting and registry functions.

Who else is involved?

Who is involved? 07.


17

How to complain 08. In the first instance, please direct any complaints to:

Milford Funds Limited



Auckland 1140

Telephone: 09 921 4700 or 0800 662 346


If we are unable to resolve your complaint,

you may choose to contact the Supervisor at:

Trustees Executors Limited



Auckland 1010

Attn: The Manager

Telephone: 09 308 7100

We are a member of the Insurance and Financial Services

Ombudsman Scheme (‘IFSO’), which is an independent

dispute resolution scheme approved by the Ministry of

Consumer Affairs.

If you have made a complaint and it cannot be resolved, you

may refer it to the IFSO subject to certain conditions. The IFSO

will not charge a fee to investigate or resolve a complaint.

Office of IFSO

PO Box 10-845

Wellington 6143

Telephone: 04 499 7612 or 0800 808 200

Further information about referring a complaint to the

IFSO can be found at www.ifso.nz/complaints.

The Supervisor is also a member of an independent dispute

resolution scheme operated by Financial Services Complaints

Limited (‘FSCL’). If the Supervisor hasn’t been able to resolve

your complaint in a way that you think is satisfactory within

40 business days, you can contact FSCL at:

Financial Services Complaints Limited

Level 4, 101 Lambton Quay

PO Box 5967, Lambton Quay

Wellington 6145

Telephone: 0800 347 257


FSCL will not charge a fee to investigate or resolve

a complaint.

18


8. How to complain9. Where you can find more information

Further information relating to the Plan, including financial

statements, is available on the Disclose Register at


Copies of information on the Disclose Register are

also available on request from the Registrar of Financial

Service Providers.

Fund Updates relating to each of the Funds and other

information is available at www.milfordasset.com.

Milford also publishes monthly information for each Fund,

which can be found at www.milfordasset.com/forms-

documents/fund-reports or by telephoning 0800 662 346.

You will not be charged any fee to access this information.

Where you can find more information 09.

The easiest way to apply is online at

www.milfordasset.com.

Please follow the instructions and make sure

you have all required information to hand.

Alternatively, you can complete the application

form included with this PDS.

How to apply 10.

19

J000

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Page 1 of 6

Milford KiwiSaver Plan Application / Transfer Form

IRD NUMBER*

*If no IRD number has been received within six weeks of joining the Milford KiwiSaver Plan, we are required to exit you from the Milford KiwiSaver Plan.

Prescribed Investor Rate (PIR) (Please tick appropriate box) You can fi nd out more about PIRs at www.ird.govt.nz (search “Using Prescribed Investor Rates”). If you are unsure of your PIR, we recommend you seek professional advice or contact Inland Revenue. If a PIR is not selected a 28% PIR will apply.

10.5% 17.5% 28%

How did you hear about Milford? (Please select as many that apply).

TV/video advertising Newspaper/magazine advertising Online advertising Online search Radio

Brian Gaynor’s article Referral

Other

Please send this application form, together with any other required documentation to: Milford KiwiSaver Plan PO Box 960, Shortland Street, Auckland 1140

We are unable to accept scanned copies. If you are applying on behalf of a minor, please contact us as a different form will be required.

Investor Details

FIRST NAME MIDDLE NAME(S) SURNAME

TITLE DATE OF BIRTH EMAIL ADDRESS (required for access to online client portal)

/ /

MOBILE PHONE NUMBER HOME PHONE NUMBER

PHYSICAL ADDRESS (cannot be a PO Box) SUBURB


POSTAL ADDRESS (if different from physical address) SUBURB


ADVISER CODE

For internal use only.

Page 1 of 6

20


Page 2 of 6

J000

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Page 2 of 6

Investment Details

The Milford KiwiSaver Plan offers the option of investing your contributions in any of the below Funds or splitting your contributions across multiple Funds. Please note the percentage you wish to invest into each Fund, ensuring the amount totals 100%. If you wish to invest in one Fund only, please enter 100 in that box.

Cash Fund

Balanced Fund

Note: In the event of an error in completing this part of the form, Milford has the discretion to allocate you into the Milford Moderate Fund.

Contribution DetailsEmployees

If you are employed, your regular contributions will be made by your employer. If you would like to make changes to this rate please contact your employer directly. If you wish to invest an additional amount directly, please contact Milford or complete a direct debit form.

Non employees & Self employed

If you are not employed (self-employed, under 18, retired, etc) and NOT transferring an existing KiwiSaver account, please complete the amount of your initial investment. The minimum initial investor contribution is $1,000, please reference this payment with your name and IRD number.

Note: You are not obligated to make regular contributions to your Milford KiwiSaver account, if you would like to do so please complete a direct debit form or contact Milford.

Initial Investment

$

Please make the cheque payable to ‘Milford KiwiSaver Plan’. Or direct credit to 02 0500 0966274 000 in the name of Milford KiwiSaver Plan.

Conservative Fund

Active Growth Fund

Moderate Fund

Aggressive Fund

21


Page 3 of 6

J000

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Page 3 of 6

Investor Identifi cationThe Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and, periodically, reconfi rm information about existing clients. At the date of the attached Product Disclosure Statement (‘PDS’) we have two options for clients to confi rm their identity. Please select one of the options below.

Option 1: Electronic Identity Verifi cation and Proof of Address

Milford can confi rm the identity and/or New Zealand address of many of our clients electronically, with their permission. Please note that we use a third party system not owned by Milford to conduct identity checks in this way.

I confi rm that I give Milford authority to check my identity and/or address electronically using the documentation provided. I have included a copy of my current NZ Passport (preferred) or NZ Driver Licence (front & back) Please note, if this method fails to identify you, we will contact you to provide physical documents, as per Option 2 below.

Option 2: Certifi ed copies of Identity Documents

If you prefer to provide Milford with original certifi ed copies of your identifi cation and address documents or you have opted not to use Electronic Identity Verifi cation, then you will need to provide the following documentation:

Please note we need certifi ed photocopies of your documents (we need the copy that has been physically certifi ed). These documents cannot be scanned to us. Please do not send original versions of your identity documents.

Please verify my identity and address with the attached documents:

• Certifi ed copy of identifi cation document/s (see below for acceptable documents) • Certifi ed copy of physical address (see page 4 for acceptable documents)

1. CERTIFIED COPY OF IDENTIFICATION

Originals can be verified by a Milford employee or certified by a Trusted Referee as described on page 4.

Option 1


Option 2

Current New Zealand Passport (preferred) New Zealand Driver Licence (front and back)

New Zealand Firearms Licence

Overseas Passport with proof of NZ residency In combination with one of the following:

OR Bank statement, dated within the last 12 months

Valid credit or debit card with name embossed and signature

Birth certificate

Citizenship certificate


SuperGold card with photo, name and signature

22


Page 4 of 6

J000

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Page 4 of 6

Investor Identifi cation (continued)

ACCEPTED TRUSTED REFEREES

Originals can be verified by a Milford employee OR certified by a Trusted Referee in accordance with the instructions outlined below. Certified copies of identification must be presented to Milford within three months of certification.

Identifi cation must be certifi ed by one of the following:

• Lawyer with a current practising certificate • Registered Teacher

• Chartered Accountant • New Zealand Honorary Consul

• Member of the Police • Notary Public

• Justice of the Peace • A person who has the legal authority to take statutory declarations or the equivalent in New Zealand • Registered Medical Doctor

The certifier must:

• Make the statement “I certify this to be a true copy of the original which I have sighted and represents a true and correct likeness of [name of the person presenting the documentation for certification].”

• Include their name, occupation and capacity to be a certifier e.g. registration number (if applicable), signature and date of certification.

• Not be living at the same address, a relative or spouse of the individual presenting the documents.

POSTAL DETAILS

Please send your application and all supplementary documentation in hard copy to the address details below:

Milford KiwiSaver PlanPO Box 960Shortland StreetAuckland 1140

2. CERTIFIED ADDRESS PROOF

Originals can be verified by a Milford employee or certified by a Trusted Referee as described below. Must state name and physical address, cannot be a PO Box address.


Bank statement, dated within the last 12 months

Current house or contents insurance policy

Current vehicle registration dated within the last 12 months


Utility bill (power, water, internet, fixed home phone, SKY) dated within the last 12 months

Rates bill dated within the last 12 months

Tenancy agreement dated within the last 12 months

Letter issued by local Health Board dated within the last 12 months

23


Page 5 of 6

J000

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Page 5 of 6

Privacy Statement

1. The personal information you provide in this Application Form (and identity information collected in connection with this Application Form), or in the future, will be collected and held by Milford Funds Limited (“Milford”) for purposes relating to the administration, marketing, operation, security and management of the Funds, the provision of services to you, and compliance with any laws, rules and regulations whether in New Zealand or in any other country. Your personal information may be disclosed to, and held and used by, the following persons:

• The Supervisor of the Funds • Milford Asset Management Limited or any of its subsidiaries or related companies (together, the “Milford Group”) • Inland Revenue • Financial Markets Authority • Any third party, whether in New Zealand or elsewhere, that provides services to the Milford Group. In particular, if you have opted for

electronic identity verifi cation, the information will be shared with external agencies who may use a credit fi le header database to verify your address (note, this is not a credit check)

• Your own fi nancial adviser (and their staff), this only applies if you have notifi ed us of this relationship (you are responsible for advising us if and when this relationship ends)

• Any other person or entity where it is relevant to do so for the purposes set out above.

We can also release personal information to third parties as instructed by you and in other ways permitted by the Privacy Act.

2. Your personal information may also be used by, and you consent to the use of your personal information by, Milford or any other member of the Milford Group to keep you informed about other fi nancial opportunities, products and services of any Milford Group member, including by email, by text message, by Milford Group’s online portal or by any other electronic means. Any electronic communication offering other fi nancial opportunities, products or services will include an unsubscribe facility.

3. You have the right to access and request correction to the personal information you have supplied, by contacting Milford on 0800 662 346 or by emailing us at [email protected]. Any update to your personal information may be used to update other information held about you by any member of the Milford Group.

Electronic provision of information

4. I consent to receiving any communication from the Supervisor or any member of the Milford Group electronically via Milford Group’s online portal, or at the email address specifi ed in this Application Form, or any other email address advised to any Milford Group entity from time to time. These communications include those required by law and those provided in connection with your Fund, including annual reports and annual tax certifi cates.

Declaration

• I have received and read a copy of the Product Disclosure Statement dated 27 March 2020 (“PDS”), and understand that additional information about the Funds is available on the Funds’ online register entry.

• I agree to be bound by the terms and conditions of the PDS and the Trust Deed.• I understand that the Milford KiwiSaver Plan is a vehicle for long-term investment and as the Funds invest in equities, the value of my

investment is liable to fl uctuations and may rise and fall from time to time.• I accept that it is solely my decision to make this investment and that I have chosen the appropriate Fund for my risk tolerance and circumstances.• I understand that Milford has not assessed the suitability of this investment for my personal fi nancial situation, fi nancial needs or goals.• I understand the manner in which the fees will be deducted from my investment.• I acknowledge that I will be unable to make any withdrawal from the Funds until Milford has received my signed withdrawal request and any

supporting or identifi cation information required.• All the information I have provided in this Application Form is to the best of my knowledge and belief, correct and complete. I undertake to notify

Milford of any change which causes the information to become incorrect or incomplete.• I acknowledge and agree to the terms of the Privacy Statement and electronic provision of information above.

For KiwiSaver transfers only:

• I apply to transfer my KiwiSaver account to the Milford KiwiSaver Plan.• I authorise the manager or the Supervisor of the transferring scheme to provide to Milford or the Supervisor of the Milford KiwiSaver Plan

any of my personal information as necessary to complete the transfer of my benefi ts to the Milford KiwiSaver Plan.

If you wish to transfer a non-KiwiSaver superannuation to your KiwiSaver account, please contact Milford directly.

Your Agreement

SIGNATURE OF APPLICANT DATE

/ /

Please note we cannot accept electronic signatures.

24


J000

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Page 6 of 6

Application Form Checklist

Individual

Name

IRD number

Date of birth

Fund choice selected

Certifi ed personal identifi cation or Electronic Identity Verifi cation consent - refer to pages 3-4

Certifi ed address verifi cation or Electronic Identity Verifi cation consent - refer to pages 3-4

Application form signed

Page 6 of 6


25

Notes

26


Notes

27


Level 28, 48 Shortland Street, AucklandPO Box 960, Shortland Street, Auckland 1140

Free phone 0800 662 346milfordasset.com